Warren Buffett's Investment in Occidental Petroleum - Warren Buffett's Berkshire Hathaway invested approximately $405 million in Occidental Petroleum (OXY) shares during 2024, despite the stock trading below $50 [1] - OXY stock has shown signs of recovery, currently trading at $50.51, up 1.41% in the last trading session and 4.6% on a weekly basis [2] Technical Analysis and Potential Breakout - OXY stock is forming a bullish technical pattern, pushing above a descending wedge, with a bullish MACD cross indicating positive momentum [4][5] - Key resistance levels to watch are $55 and $62.50, with a potential breakout paving the way for higher price ranges [6] Financial Recovery and Strategic Moves - Occidental Petroleum has reduced its debt by 60% since its 2019 acquisition of Anadarko Petroleum, leveraging $23.6 billion in free cash flow from the 2022 oil surge [7] - The company redeemed 15% of Berkshire's preferred stock, saving $120 million annually in interest costs [7] Long-Term Growth Opportunities - Occidental's investment in direct air capture (DAC) technology positions it for long-term growth, with Microsoft purchasing 500,000 metric tons of carbon credits and the U.S. government investing $500 million in its carbon capture projects [8] Revenue Outlook - Occidental's revenue is expected to decline by 6.65% in Q4 2024 to $7.03 billion, but rebound by 14.96% in Q1 2025 to $6.91 billion [9][10] - Full-year 2024 revenue is estimated at $27.15 billion, down 6.1% from 2023, with a forecasted rebound to $28.44 billion in 2025, marking a 4.75% year-over-year growth [10] Analyst Projections - Wall Street analysts project OXY stock to trade at an average price of $60.45 in the next 12 months, with the highest forecast at $78 [11]

It could take several decades for these high-risk tickers to bear their full fruit.The advent of artificial intelligence (AI) is seen by many as one of the modern era's most incredible developments. And to be fair, it is a game changer.To say AI is the only innovation that's changing the world in a big way right now, however, ignores another revolution that's just as impressive... even if it's a little less exciting. That's the advent of renewable energy. For the first time in history it at least seems poss ...

HOUSTON, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) will announce its fourth quarter 2024 financial results after close of market on Tuesday, February 18, 2025, and will hold a conference call to discuss the results on Wednesday, February 19, 2025, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregi ...

Occidental Petroleum Corporation’s (OXY) shares have gained 0.1% in the last fortnight against the Zacks Oil and Gas-Integrated-United States industry’s decline of 3.9%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company operates in a very competitive industry, but Occidental’s strong presence in the prolific Permian Basin acts to its advantage.Occidental has outperformed some other operators in this space. In the same period, other operators in the same industry, like Conoc ...

Warren Buffett has made some rather bearish moves in Berkshire Hathaway's (BRK.A 0.80%) (BRK.B 0.95%) stock portfolio in the past few quarters. Most notably, the legendary investor disposed of significant portions of both the Apple and Bank of America investments that have performed extremely well for Berkshire. It's been quite a while since Buffett and his team have been net buyers of stocks.However, we recently learned that Buffett took advantage of the recent stock market sell-off by adding to three of B ...

Buffett hasn't been a big buyer in 2024, but he thinks these stocks present great value right now.Warren Buffett hasn't seen a lot to like in the stock market lately. Through the first three quarters of 2024, Berkshire Hathaway (BRK.A 0.80%) (BRK.B 0.95%) sold $133 billion worth of stock from the portfolio he manages for the conglomerate. While he's made a few new purchases in that time, they total just $5.8 billion.As many stocks have seen their price rise faster than their underlying earnings, valuations ...

I analyze oil and gas companies like Occidental Petroleum and related companies in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign ...

The fact that Buffett is expanding Berkshire's position when he sees little else worth buying speaks volumes.Just when it looks like Warren Buffett is done adding a position in a particular company, you learn he isn't. Last week, Berkshire Hathaway (BRK.A -0.07%) (BRK.B 0.25%) expanded an already-massive Occidental Petroleum (OXY 1.51%) holding that hadn't been touched in months, capitalizing on the stock's 35% pullback from April's peak that more or less aligns with crude oil's price action for the same ti ...

Warren Buffett's company, Berkshire Hathaway (BRK.A 1.37%) (BRK.B 0.86%), can't seem to get enough of Occidental Petroleum (OXY 3.90%). The conglomerate recently purchased another 8.9 million shares of the oil company for $405 million. Buffett's company now owns over 264 million shares worth almost $12.5 billion, totaling more than 28% of Occidental's outstanding shares. Here's a look at the likely factors driving Berkshire Hathaway to scoop up so much of the oil stock and some things to consider before you ...

Key TakeawaysWarren Buffett's Berkshire Hathaway has added to its holdings of shares of Occidental Petroleum and SiriusXM Holdings.According to regulatory filings, Berkshire Hathaway purchased 8.9 million shares of Occidental Petroleum and 5.0 million shares of SiriusXM Holdings.Shares of both companies have tumbled this year, hitting their lowest levels of 2024 yesterday. Shares of Occidental Petroleum (OXY) and SiriusXM Holdings (SIRI) advanced about 4.5% and 10%, respectively, on Friday after billionaire ...